All3 Boosts Revenues, Seeks Morrison Successor

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Superindie All3Media has reported increased revenues for the year ending August 31, 2011, up to £465m from £363m.

The company, which owns a number of indies including Lime Pictures, Company Pictures, Studio Lambert and Optomen, attributed a lot of its growth to US expansion – though it has also had homegrown hits with reality series like The Only Way Is Essex.

Notwithstanding its growth, there are reports this week that the company, which is backed by private equity firm Permira, is looking for a new CEO to succeed current CEO Steve Morrison. Morrison, who will oversee the search, would then become company chairman. Permira’s chief requirement in a new CEO will probably be selling the all3 group at a healthy profit, the one thing that Morrison hasn’t managed to pull off so far.